Reuters logo
CORRECTED-Japan's FamilyMart, UNY to announce merger Thursday - Nikkei
October 15, 2015 / 6:13 AM / 2 years ago

CORRECTED-Japan's FamilyMart, UNY to announce merger Thursday - Nikkei

(Corrects merger ratio in paragraph 2)

TOKYO, Oct 15 (Reuters) - FamilyMart Co has agreed to merge with UNY Group Holdings Co through a share swap deal to be announced on Thursday, the Nikkei business daily said, in a move that will create Japan’s second-biggest convenience store operator by sales.

After months of discussions, the companies have reached a basic agreement in which about 0.13 FamilyMart share will be exchanged for each UNY share, the paper said. FamilyMart will be the surviving entity, it said.

The Tokyo Stock Exchange suspended trade in both companies’ shares after the midafternoon report.

FamilyMart, now Japan’s No.3 convenience store operator, and UNY, owner of fourth-ranked chain Circle K Sunkus, had agreed in March to begin negotiations with the aim of merging in 2016. (Reporting by Chris Gallagher and Chang-Ran Kim; Editing by Clarence Fernandez)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below